Pune, India -- (SBWIRE) -- 08/14/2018 -- Payment security Global Market - Overview

The global payment security market is showing immense growth; mainly due to the growing need to adhere to PCI DSS guidelines and rise in fraudulent activities in ecommerce. Technological advancements have played a major role in the development of payment security market. Steep increase in the adoption of advanced payment security solutions for digital ecommerce is another major factor driving the growth of payment security market.

Braintree, CyberSource Corporation, Elavon, Index, Ingenico ePayments, Intelligent Payments, GEOBRIDGE Corporation, and Shift4 Corporation are the major investors in the payment security market. Increasing demand for secured payment gateways is one major factor driving the growth of payment security market. Growing urbanization and population is another factor driving the growth of payment security market. Moreover, increasing adoption of digital payment modes across different verticals is responsible for driving the growth of payment security market.

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By organization size, the large enterprises sub segment is expected to hold the largest share of the market size in 2017. However, the SMEs sub segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing adoption of payment security solutions in order to protect the customer-sensitive bank account data from network vulnerabilities and attacks. Also, by service, the support services sub segment is expected to hold the largest market share of the global payment security market. According to a recent study report published by Market Research Future, the global market of Payment security is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023).

The Global Payment Security Market is expected to grow at USD 27 Billion by 2023, at ~17% of CAGR between 2017 and 2023.

Industry News

May 2018 – PayPal has launched Braintree Extend, which will make it possible for the merchants to extend their reach into other ecosystems and environments and to share payments data in a secure, compliant way.

Key Players

The prominent players in the Payment Security Market are – Ingenico ePayments (Netherlands), Intelligent Payments (Gibraltar), GEOBRIDGE Corporation (US), PayPal Holdings (US), Elavon (US), Index (US), Shift4 Corporation (US), Transaction Network Services (TNS) Inc. (US), TokenEx, LLC (US) and CyberSource Corporation (US), among others.

Payment security Global Market - Competitive Analysis

The market of payment security appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.

Global Payment Security Market Segmentation

The Payment Security Market has been segmented on the basis of component, organization size, end- users, and region. The component is segmented into services and solution. The organization size includes large enterprises, small and medium-sized enterprises. The end user segment includes BFSI, healthcare, IT and telecom, travel and hospitality. The payment security has wide range of applications across several industries such as banking and financial sector, media and entertainment and others. The advanced payment security leads to the developments in the services and software modules and this will grow the demand of payment security market.

Market Research Analysis:

On geographic basis, the global payment security market is studied in different regions as America, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with largest market share in the payment security market. In this region, this market is growing due to the payment security system maintains the log file till it is practical to maintain. Europe is estimated to be the second largest market for payment security during the forecast period, this is due to the increasing demand of on-line payment security which recognize the fault diagnosis and prognosis of the system. In APAC region is estimated to the highest CAGR in the forecast years the companies are investing to enhanced payment security and provide the best solution to the customer

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Intended Audience

- Payment Security manufacturers
- Original equipment manufacturers
- Government agencies
- Payment security vendors
- Network solution providers
- Independent software vendors
- Consulting firms
- System integrators
- Research institutes and organizations
- Technology standards organizations
- Technology investors
- Research institutes,
- System Integrators
- Research/Consultancy firms

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